27/09/2015
Please take this Message very seriously. Prime Minister had meeting with Industrialists. RBI governor was also present. Industrialists demanded Interest rate cut. Our real economy is also in bad shape and everyone is asking for rate cut. Hence, very soon interest rates will go down. May be in couple of days time. After that LIC will be left with "no choice" but to withdraw Jeevan Akshay immediately. It is already giving "lifetime' assured rate of 7.5% even at age 50years. In higher ages its even more. Prior to this whenever LIC has withdrawn Akshay, it has been done with just 24 hours notice bcoz there is no medical formality in Akshay. Hence LIC cannot give more time. IRDA objects to it.
SBI, ICICI and HDFC are giving 7.25 to 7.5% interest on FD.
